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Asian Free Trade Agreement
The Asian Free Trade Agreement, sometimes known as AFTA, is an agreement between the Grand Yarphese Republic and the East Asian Federation to lift almost all quotas, tariffs, and protectionism in trade with each other. It is the trade bloc with the fourth-highest GDP (PPP) and second-highest GDP per capita (PPP). It was created under the Treaty of Singapore on 11 January 2003, and its two countries have grown immensely since then, with extremely developed economies that rival those of powers in Europe and North America. In 2005 a constitution was reached, governing trade among Yarphei and the EAF. Negotiation and Ratification The idea began with Yarphei deciding not to join ASEAN. ASEAN contained many countries that were stripped of their land and resources by Yarphei, and the country did not believe it was profitable. Trầng Chúp Long looked to the East Asian Federation, a country also lacking a trade bloc. These countries decided to become allies immediately, and decided to form a free trade agreement in 2002. The Chamber of Commerce of Yarphei passed the measure 86 - 4, and it was quickly approved 241 - 39 in the Upper Council. The Federation Board in the East Asian Federation quickly passed the bill with similar overwhelming statistics. On 11 January 2003, Trầng Chúp Long and Kumiko Akimoto met in Singapore to pass the Treaty of Singapore. There were few disagreements. Industry Industry makes up a large percentage of the GDP for both the EAF and Yarphei. Yarphei uses a broad range of less-technological industry, ranging from food processing to technology. However, the EAF mainly relies on advanced machinery as a source of income. Therefore, Yarphei has become very technologically advanced in recent years, while the EAF is able to recieve products at affordable prices. Agriculture While the EAF is moving out of the agricultural sector, Yarphei is growing in the field of vertical indoor agriculture. Because of this, Yarphei is able to export traditional crops such as rice and spices, but also corn, tomatoes, potatoes, and apples. In the area of animal raising, both countries are lacking, so meat and milk are imported from the United States. EAF agriculture, meanwhile, is suffering due to land constraints, which was one of the reasons it decided to take advantage of Yarphei's surplus. Environment The environment is something that is high on the priorities of the AFTA. The EAF has been extremely successful in protecting the environment, but the Grand Yarphese republic has had troubles make its cities green. Tranh Chup-yar City was a major accomplishment in green architecture, but the crowded cities such as Bangkok and Saigon still need updates. Before 2007, the main way to protect the environment in Yarphei was to impose strict regulations on corporations and people. However, later, Trầng Chúp Long decided to focus his and his country's attention to research to create new environmentally-friendly technologies. Trade Trade has proved overwhelmingly beneficial to both countries. During the economic downturn of 2008, both countries were still able to make ends meet because of devoted trading. The AFTA has agreed that there will be no quotas or tariffs on legal items, and exports from Osaka, Kyoto, Busan, Incheon, Saigon, Bangkok, and Singapore have skyrocketed in the past years. The great demand has led to both countries' economies becoming what some call "charging tigers." The main exports from the EAF are electronics and machinery, while Yarphei exports are agriculture and various industries. As well as being normal trade, it is also a technology exchange, allowing two highly technological countries to exchange and create new technologies. Diplomacy Under the 2005 charter, the premier of Yarphei and chief executive of the EAF with the secretary general use the Internet to communicate issues regarding trade. This has been lately successful. In addition, on the third to last weekdays of February, June, and October, the premier, secretary general, and chief executive meet in either Singapore, Kuala Terengganu, Tranh Chup-yar City, Bangkok, Saigon, Seoul, Tokyo, Saikyo, Busan, or Kyoto. Category:Organizations Category:Yarphei Category:EAF Storage Category:FW Storage